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Delta Seeking $2.6 Bln In Loans To Refinance Debt (DAL)
Delta Air Lines (NYSE:DAL) the world’s second largest air carrier, is seeking $2.6 billion in loans to refinance debt, according to a Bloomberg report.J.P. Morgan Chase & Co, the bank leading the financing, is hosting a lender call on March 31st at 11 am in New York, said an unnamed source who declined to be identified because the deal is private.The loans include a $1.225 billion five year revolving credit line and a $1.375 billion six-year term loan B, both first-lien debt, the person said.First-lien debt is repaid first in a bankruptcy or liquidation, followed by second-lien debt.
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Date Found: March 29, 2011
Date Produced: March 29, 2011
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